The highest rate on a savings account at the moment according to the BestCashCow rate table is Everbank with 6.01% (nevermind that Everbank's account is actually more of a checking than a savings account). The next highest is FNBO at 6%. This is an interesting one because Everbank's rate is a promo one that only lasts 3 months. FNBO's says it's rate isn't a promo and that is applies to all balances held in your account from 5/1-9/28 2007. So what happens after that? New money will not get the rate but how long will deposits during the qualifying timeperiod get it? In the disclaimer, it says:
"Rates may change after the account is opened, but we will not change rates until September 28, 2007 on deposits that are accepted before the rates are changed."
So basically, FNBO can change the rate at any time after 9/28.
So, for now, I guess I agree with BestCashCow. Everbank has the highest rate and at least you know how long you will get it for, even if it's labeled a promo.
Saturday, August 11, 2007
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About Me
- Mr. Saver
- For some strange reason I like to talk about rates. The Internet is changing the name of the game and I like following what is happening. Who would have thought banking could be fun.
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